Florida AG Confirms $1.5M Crypto Seizure in Citrus County Fraud

Florida prosecutors have officially announced the seizure of about $1.5 million in cryptocurrencies on Thursday. Attorney General James Uthmeier confirmed the seizure and announced the filing of a case against Tu Weizhi, a Chinese national. According to the latest reports, the Florida Cyber Fraud Enforcement Unit has obtained a court order targeting assets held by the Chinese national. Following the investigation, the Attorney General’s office issued a news release stating that Tu Weizhi of China had been charged with money laundering, grand theft, and operating an organized scheme to defraud. The release added that Weizhi would be arrested if he attempted to enter the United States, noting that the seizure was based on the Fugitive Disentitlement Act, which is a provision that allows courts to act against digital assets tied to a criminal case when the defendant remains outside the jurisdiction.  

The seizure warrant, filed in the Fifth Judicial Circuit and issued on Tu Weizhi, will recover the Chinese international’s entire cryptocurrency wallet, valued at approximately $1.5 million. According to the latest reports, the wallet that Florida prosecutors seized contained digital assets including AVAX (Avalanche), DOGE (Dogecoin), PEPE (Pepe), and SOL (Solana). 

The first-stage investigation into this case was started in July 2024 after a complaint was filed with the Citrus County Sheriff’s Office. A Citrus County resident disclosed losses of $47,421 after falling victim to an online investment scheme. Such cases worldwide highlight both the risks of crypto scams and the growing ability of regulators to trace and recover stolen digital assets. Angela Ang, head of policy and strategic partnerships for Asia Pacific at TRM Labs, stated that this wasn’t the first time U.S. law enforcement had seized assets in absentia, but what was notable was how comfortably those doctrines now extended to crypto. She mentioned that with the right tools, expertise, and cooperation from good actors, the transparency and traceability of public blockchains could actually make such seizures more feasible in crypto, not less.

Attorney General James Uthmeier appreciated the investigation team, thanked them for their unwavering support and commitment in the case. He stated that while scammers were changing their methods, he was proud of their Statewide Prosecutors’ ability to adapt and deliver justice. He expressed his gratitude to their Cyber Fraud Enforcement Unit and the Citrus County Sheriff’s Office for their continued dedication and for making the fraudster’s victim whole again. 

Florida Attorney General’s Office Warns Of Rising Crypto Scams, Urging Victims To File Complaints.

Florida has been the hub of cryptocurrency recently, and the state consistently ranks in online fraud cases, identity theft, and investment scams. The Federal Trade Commission announced that fraud losses in 2024 totaled more than $12 billion, with investment schemes responsible for roughly $5.7 billion of the total amount. Last month, Okaloosa County reported over $1.1 million lost to an investment scam similar to the Citrus County incident. Crypto ATM scams are another type of scam rising in Florida. Crypto ATM scams typically operate by persuading victims to withdraw cash from their bank accounts and deposit it into cryptocurrency ATMs. Once the money is inserted, it is converted into digital currency that is difficult to trace and nearly impossible to recover. 

The rising numbers and intensity of crypto-based scams in Florida have become a serious issue. The authorities have already proposed BH 505, Virtual Currency Kiosks, aiming to combat virtual asset-based fraud. The Florida Attorney General’s Office warned crypto users that cryptocurrency-related crimes were on the rise. They stated that if individuals believed they had been the victims of fraudulent activity, they could file a complaint at MyFloridaLegal.com or by calling 1-866-9-NO-SCAM.  

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